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Akron seeks $20 million WSRLA loan to replace private lead service lines; 53% principal forgiveness included
Summary
Council approved, on consent, an ordinance authorizing the mayor—s designee to apply for a $20 million Water Supply Revolving Loan Account (WSRLA) loan to fund private-property lead service line replacements; city staff told council the loan is 40 years at 0% interest with 53% principal forgiveness.
Akron council members approved on consent an ordinance authorizing the mayor—s designee to file applications with the Water Supply Revolving Loan Account (WSRLA), the Ohio Environmental Protection Agency and the Ohio Water Development Authority to fund the city—s 2025 lead service line replacement program.
Mister Lottrell, director of public service (as identified in the meeting), told the committee, "This WSRLA loan is for $20,000,000." He said the funds will be used to comply with the city—s obligations under the lead copper rule that the city expects will be enforced Nov. 1, 2027: "we will be lead free, with any…
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